Finance Minister appointed vice chairman of EBRD

Edward Scicluna appointed vice chairman of the European Bank for Reconstruction and Development for the period 2016-2017

Finance Minister Edward Scicluna
Finance Minister Edward Scicluna

During the annual meeting and business forum of the European Bank for Reconstruction and Development, Finance Minister Edward Scicluna was appointed vice chairman of the EBRD for the period 2016-2017.

The EBRD meeting is being held in London.

Scicluna had already served in that position during the 2014-2015 period.

The Chair and Vice Chairs for 2016-2017 are elected through a formal process, whereby a recommendation is made by the Procedures Committee 2015-2016 through the Committee’s Report submitted to governors prior to the annual meeting.

During the meeting the governors also voted and reaffirmed Sir Suma Chakrabarti as President of the Bank for the coming four year period.

Malta has been a shareholder of the EBRD since the bank was founded in 1991 to support the transition to market economies and democracies after the collapse of communist rule in Eastern Europe.

Malta’s relationship with the EBRD has continued to grow in recent years and has seen Malta renew its support to the Bank in a period when the Bank’s mandate is being extended to North Africa and the Middle East.

Scicluna was accompanied by the deputy governor of the Central Bank of Malta Alfred Mifsud and his chief of staff Tania Brown.